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UBS makes first profit since Credit Suisse rescue

UBS makes first profit since Credit Suisse rescue
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Sabadell shares rise further on BBVA merger proposal, but well below premium

Shares in Spanish bank Sabadell rose around 5% on Thursday, adding to gains since bigger rival BBVA announced a merger proposal this week, but still far off the premium offered as the market assessed the viability of the all-share deal. Sabadell shares have risen by over 8% since Monday's closing price. BBVA announced the merger talks on Tuesday, aiming for a deal that would create a Spanish bank with assets of nearly 1 trillion euros ($1.07 trillion) and a market value close to Santander's.

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